Wessington Springs herald. (Wessington Springs, Aurora County, Dakota [S.D.]) 1883-1891, 1887-12-16

these ,,eua .f,at mere may be large part of
%a ,' ouhels helu aslnvestments which cannot
nations . n,sa az any price, and that combi
saii 'u ,,,. among holders who are willing to
s sh may 9nreasonably enhance the cost Of
9o r. nonaS TO the government.
oenued debt might be refunded at less rate
VI u, interest, and the difference between the
6 6,u anu new securities paid in cash, tins
l ne success of this plan, it is apparent mnst
t pe rounded on the volition of the holders of
u. .he present bonds, and it is entirely certain
. .,lat the lnducement which must be- offerad
.he men would result in more financial hanot;t
t w. .Ie s9v vt than the purchase of
r uonus. =. winnie the latter proposition would
'eouce the principal of the debt
BY ACTUAL. PAYMENT.
, ,a;. OF extending the proposition to de-
hosit money held by the government in
b~ tSo throughout nnol5 the country for use
exceedingly Objectionable principle, as reach H..
i,ls 100 close relationship between the oper-
t'siohS OF the government and the business
~ ~; l'ie country. and too extensive a coming
,i n OF their money, thus fostering an I'M
aa,Iial rellance of private business upon
p un FUNDS. II this scheme should be
adopted, it should only be done AS n fem
Porary expedient, and to meet the necessity
ies s.Ml ana executive effort should gen
orally ce Ill the opposite direction and
should nave tendency to divorce as much
ana as fast as can safely be done the trens-
ory department. from private enterprises.
vi course, 1T Is not expected that unnec-
essary and extravagant operations will be
made for the purpose of avoiding the ac-
cunulatlon of an excess of revenue. such
expenditure being in decentralization of ali
Just conceptions of public duty, which it en-
1alls. and emulates reckless improyidence
not III the least consistent with the mission
vi , our people, or the hish and benefcent pur-
pose of our government.
a, nave deemed it my duty thus to bring to
tfie knowledge of my countrymen, as well
rs 10 the attention of their representatives.
Tie responsibility of legislative acts, the
GRAVITY OF OUR FINANCIAL SITUATION.
Ihe failure of the congress heretofore to
| provide against the dangers which IL was
quite evident the very nature of the diff
cuity must necessarily produce, caused a
condition of financial distress and appre-
hension since the last adjournment which
! taxed to the utmost all the authority and
expedients within executive control. and
these appear now to be exhausted. If dis
aster results from the continued inactivity
of congress, the responsibility must rest
where it belongs. The situation, thus far
considered, is fraught with danger, which
iio''i' "e luiiS iehllZeu ana tne present
features. wrong to the people as we'll as to
the country, are but a result growing out of a
perfectly palpable and apparent cause, con-
stantly reproducing the same alarm
ing circumstances congested national
treasury and a depleted monetary con
dltlon i'll the business of the country.
1t needs hardly to be stated that while the
present situation demands remedy, we
can only be saved from a predicament by
removal of the cause. OF course our scheme
of taxation, by which this needless surplus
Is taken from the people and put into the
public treasury, consists of a tariff OF duties
levied OIL importations from abroad, and i'll
ternal revenue taxes, levied Oh the con-
sumption OF tobacco and spirituous and malt
liquors: 1t must be conceded that none of
these things subjected to internal revenue
taxes are. strictly speaking. necessary, and
it so appears not to be a just cause of COM
plant with consumers of the articles. and
there seems to be nothing so well able to
bear the burden. without hardship to any
portion of the people.
BUT OUR PRESENT TARIFF LAWS,
the various inequitable and illegal source of
unnecessary eXaction. ought to be at once
their primary and plain effect, increase the
price to consumers of all articles imported
and subjected to duty by precisel the sum
paid for such duties. Thus the amount of
duty measures the tax paid by those who
purchase for use these imported articles.
Many of these things, however, are raised
or manufactured in our own country, and
the duties now levied upon foreign goods
and products are called projection to these
home manufactures because they render it
possible for those of our people who are
manufacturers to make these taxed articles
and sell them for a price equal to that de-
mandcd for the imported goods that have to
pay customs duty. So it happens that while
comparatively few use imported articles
millions of our people, who never use and
never saw any of the foreign products,
purchase and use things of the same kind
nearly orquite the same enhanced price
which the duty adds to the imported articles.
Those who buy imports pay the duty charged
thereon into the public treasury, but
the great majority of our citi-
zens, who buy domestic articles
OF the same class, pay Il sum at least ap-
proximately equal to this duty to home
manufacturers.
This reference to the operation of our laws
is not made by way of instructions, but in
order that we may be constantly reminded
of the manner in which they impose a bur-
den upon those who consume domestic pro-
Ducts as we'll as those who consume i'm
ported articles, and thus create Il tax on all
our people. 1t is not proposed to
ENTIRELY RELIEVE THE COUNTRY
of this tax. 1t must be extensively continued
as the source of the government S income;
and in a REIMBURSEMENT upon the tariff in
terest American labor, engaged in manu-
features, should be carefully considered, as
well as the preservation OF our manufactor-
les. 1t may be called protection, or by any
other name, but relief from the hardships
and dangers of our present tariff laws
should be devised with especial precaution
against imperiling the existence of our
manufacturing interests; but the existence
should not mean q condition. which,
without regard to the public welfare or
national exigency, must always insure
realization of the immense profits, instead
of moderately profitable returns. AS the
volume and diversity of our national activi-
ties increase. new recruits are added to those
who desire a continuation of the advantages
which they conceive the present system of
tariff taxation directly affords them. So
stubbornly have all efforts to reform the
present condition been resisted by those, of
our fellow citizens thus engaged, that they
can hardly complain of the suspicion enter
tanned to ascertain to what extent there ex-
lists an organized combination, all along the
line. to maintain their advantage.
We are in the midst of centennial celebra-
lions, and with becoming pride we rejoice Ill
American skill and ingenuity, i'll American
energy and enterprise. and the wonderful
natural advantages and resources developed
by a century national growth. Yet when